Its central bank meets on Tuesday and is widely expected to hold interest rates steady at 4.35%The survey’s measures of employment and profitability picked up in July. PHOTO: REUTERS[SYDNEY] Australian business conditions improved marginally in July while confidence remained fragile, a survey showed on Tuesday (Aug 11), with firms citing cost pressures even as renewed tensions in the Gulf were sending oil prices higher again. The survey from National Australia Bank showed its index of business conditions rose 1 point to +4 in July, but stayed below the long-run trend of +7. The Reserve Bank of Australia meets on Tuesday and is widely expected to hold interest rates steady at 4.35 per cent, following three hikes this year. Firms reported a sharp rise in capacity utilisation to 83 per cent, driven largely by the finance, business and property and wholesale industries.